Wagner Bowman Management Corp increased its stake in The Cheesecake Factory Inc. (NASDAQ:CAKE) by 0.8% during the second quarter, Holdings Channel reports. The institutional investor owned 4,240 shares of the company’s stock after buying an additional 35 shares during the period. Wagner Bowman Management Corp’s holdings in The Cheesecake Factory were worth $204,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. BlackRock Group LTD boosted its position in The Cheesecake Factory by 12.2% in the first quarter. BlackRock Group LTD now owns 42,698 shares of the company’s stock valued at $2,266,000 after buying an additional 4,636 shares during the last quarter. BlackRock Inc. boosted its position in The Cheesecake Factory by 12.0% in the first quarter. BlackRock Inc. now owns 18,012 shares of the company’s stock valued at $957,000 after buying an additional 1,931 shares during the last quarter. Teachers Advisors Inc. boosted its position in The Cheesecake Factory by 315.5% in the first quarter. Teachers Advisors Inc. now owns 303,937 shares of the company’s stock valued at $16,136,000 after buying an additional 230,783 shares during the last quarter. Ngam Advisors L.P. boosted its position in The Cheesecake Factory by 14.5% in the first quarter. Ngam Advisors L.P. now owns 12,019 shares of the company’s stock valued at $638,000 after buying an additional 1,519 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. boosted its position in The Cheesecake Factory by 8.4% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 24,301 shares of the company’s stock valued at $1,290,000 after buying an additional 1,880 shares during the last quarter. 89.48% of the stock is currently owned by hedge funds and other institutional investors.
Shares of The Cheesecake Factory Inc. (NASDAQ:CAKE) traded up 1.27% during midday trading on Thursday, reaching $51.80. The company had a trading volume of 869,991 shares. The firm has a market cap of $2.40 billion, a P/E ratio of 20.66 and a beta of 0.45. The company’s 50-day moving average is $51.23 and its 200-day moving average is $50.99. The Cheesecake Factory Inc. has a 52-week low of $44.16 and a 52-week high of $55.58.
The Cheesecake Factory (NASDAQ:CAKE) last released its earnings results on Wednesday, July 27th. The company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.07. The company earned $558.86 million during the quarter, compared to the consensus estimate of $562.96 million. The Cheesecake Factory had a return on equity of 22.04% and a net margin of 5.81%. The firm’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.69 earnings per share. Equities research analysts expect that The Cheesecake Factory Inc. will post $2.75 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, August 23rd. Stockholders of record on Wednesday, August 10th were given a dividend of $0.24 per share. The ex-dividend date was Monday, August 8th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.85%. This is an increase from The Cheesecake Factory’s previous quarterly dividend of $0.20. The Cheesecake Factory’s payout ratio is presently 38.10%.
Several research analysts have recently issued reports on CAKE shares. Robert W. Baird reissued a “neutral” rating on shares of The Cheesecake Factory in a research note on Thursday, September 8th. Canaccord Genuity started coverage on The Cheesecake Factory in a research note on Monday, August 22nd. They issued a “hold” rating and a $54.00 price target for the company. Zacks Investment Research cut The Cheesecake Factory from a “buy” rating to a “hold” rating in a research note on Thursday, August 4th. Stifel Nicolaus cut The Cheesecake Factory from a “buy” rating to a “sell” rating and decreased their price target for the stock from $65.00 to $43.00 in a research note on Tuesday, July 26th. Finally, Barclays PLC increased their price target on The Cheesecake Factory from $53.00 to $54.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 28th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $54.73.
In other news, CFO Doug Benn sold 6,512 shares of the business’s stock in a transaction on Monday, July 25th. The stock was sold at an average price of $53.00, for a total transaction of $345,136.00. Following the completion of the sale, the chief financial officer now owns 51,344 shares in the company, valued at $2,721,232. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 8.50% of the company’s stock.
About The Cheesecake Factory
The Cheesecake Factory Incorporated is engaged in the restaurant and bakery business. The Company operates approximately 200 Company-owned restaurants, including approximately 190 restaurants under The Cheesecake Factory mark and approximately 10 restaurants under the Grand Lux Cafe mark. The Company’s segments include The Cheesecake Factory restaurants, and other, which includes Grand Lux Cafe, RockSugar Pan Asian Kitchen, bakery and international licensing.
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